Fed chair Jerome Powell announced on Sunday President Trump's Justice Department is threatening criminal charges as "a consequence" for interest rates

Wall Street and global central bankers fear politicizing the Fed could rattle markets and push US borrowing costs higher.

Donald Trump has for months been piling pressure on Federal Reserve Chair Jerome Powell to lower rates faster, arguing it would support a weakening US economy.

"We stand in full solidarity with the Federal Reserve System and its Chair Jerome H. Powell," a joint statement read.

Central bankers overseas issued a joint statement on Tuesday in support of Federal Reserve Chair Jerome Powell, who announced on Sunday he’s the subject of a criminal investigation led by

Federal prosecutors’ criminal investigation into Federal Reserve Chair Jerome Powell is echoing the Department of Justice’s failed prosecution of former FBI Director James Comey, raising questions about whether the Powell inquiry will follow a similar trajectory and collapse under its own legal and political weight.

Central bankers from across the world say they “stand in full solidarity with the Federal Reserve System and its Chair Jerome H. Powell”

The gloves are off in the heated clash between Federal Reserve Chair Jerome Powell and President Donald Trump.